Thursday, August 21, 2014

Odious Debt and Asset-Stripping

"One often wonders why governments indebt themselves for so much more than they can ever hope to pay...when they could just as well finance these projects and needs far more safely by issuing the proper amounts of their own local sovereign currency instead?" --Adrian Salbuchi


"When a society is perishing, the wholesome advice to give to those who would restore it is to call it to the principles from which it sprang; for the purpose and perfection of an association is to aim at and to attain that for which it is formed, and its efforts should be put in motion and inspired by the end and object which originally gave it being. Hence, to fall away from its primal constitution implies disease; to go back to it, recovery. And this may be asserted with utmost truth both of the whole body of the commonwealth and of that class of its citizens-by far the great majority - who get their living by their labor.

"Neither must it be supposed that the solicitude of the Church is so preoccupied with the spiritual concerns of her children as to neglect their temporal and earthly interests. Her desire is that the poor, for example, should rise above poverty and wretchedness, and better their condition in life; and for this she makes a strong endeavor. ...

"... The foremost duty, therefore, of the rulers of the State should be to make sure that the laws and institutions, the general character and administration of the commonwealth, shall be such as of themselves to realize public well-being and private prosperity. This is the proper scope of wise statesmanship and is the work of the rulers. Now a State chiefly prospers and thrives through moral rule, well-regulated family life, respect for religion and justice, the moderation and fair imposing of public taxes, the progress of the arts and of trade, the abundant yield of the land-through everything, in fact, which makes the citizens better and happier. Hereby, then, it lies in the power of a ruler to benefit every class in the State, and amongst the rest to promote to the utmost the interests of the poor; and this in virtue of his office, and without being open to suspicion of undue interference - since it is the province of the commonwealth to serve the common good. And the more that is done for the benefit of the working classes by the general laws of the country, the less need will there be to seek for special means to relieve them. ...

"... Rulers should, nevertheless, anxiously safeguard the community and all its members; the community, because the conservation thereof is so emphatically the business of the supreme power, that the safety of the commonwealth is not only the first law, but it is a government's whole reason of existence ... " --Pope Leo XIII, Rerum Novarum

Oh, and by the way, the State issuing its own sovereign currency into existence for the common good is a prime example of the State practicing its constitutional right - in other words, doing what it is there to do - and not an example of the State attempting to substitute the charity relief of the Church.

State money spent into existence without debt, and its quantity transparently controlled, is not welfare and is not socialist. It is protecting the common law of man that is money. It isn't even really "regulating" money per se, for the actual quantity of money is up to the wealth that people produce; rather, it is regulating, or upholding, the law that has already been made, just in the same way that any other law needs to be upheld after it is written. When the State forfeits this constitutional right to private banks, who turn it into a system of rapacious usury, by which they asset-strip a nation, then that State's government has become embroiled in that system (pyramid scheme) according to its nature: it becomes endlessly bureaucratic, absorbing the people of the nation into its own embroilment with the usurious powers, those who run the private banks. A tyrannical government is a faceless government, a government in which you find an empty seat, precisely where there is supposed to be a body exercising its proper powers. In the case of sovereign state money, as soon as the government body takes up that seat, that power, it suddenly becomes reachable, answerable, revealed. The issue of money control lies at the heart of the mutual contract that is government, which society has produced.

"Rapacious usury has increased the evil which, more than once condemned by the Church, is nevertheless, under a different form but in the same way, practiced by avaricious and grasping men." --Pope Leo XIII, Rerum Novarum

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